A turbo certificate that aims to bet on price increases. The participation in the upward movement of the underlying will increase as the underlying gains more value (price increase), and vice versa. The price of a call turbo certificate is expressed in the following function:

p (S_t, t) = max (S_t – K_t, 0)

Where: K_t = K₀ exp {(r + z) × t}

S_t is the market price of the underlying at a given time, t.

K_t is the strike price (it is not constant but rather changes according to the above formula).

r is the short-term refinancing rate (constant).

z is the financing parameter.

The certificate trades at this price. The holder of the certificate (the party with the call option) can exercise it by selling it to the issuer at its market price (the prevailing price at the time of the transaction).

A call turbo certificate is also referred to as a bull turbo certificate or a long turbo certificate.